Vertcoin VTC Mining Blockchain

• Triggered by bbitcointalk.org b on the global blacklist Vertcoin Code VTC Denominations Subunit 000000000♠10 −3 millivertcoin Vertcoin, Vertcoins millivertcoin mVTC Demographics Date of introduction 8 January 2014 User(s) Worldwide Issuance The Vertcoin network regulates and distributes through consensus in. Valuation 25 Vertcoins per block (approximately every 2.5 minutes) Vertcoin ( VTC) is a and software project. It is a Bitcoin-like blockchain currency with additional features such as Stealth Address technology and resistant (PoW) function.

GameCredits GAME Mining Contracts. Vertcoin (VTC) Stats. Transactions count, value, Vertcoins sent, difficulty, blocks count, network hashrate, market capitalization.

The main difference between Bitcoin and Vertcoin is the latter's resistance to centralized mining and the long term promise of Vertcoin developers to keep it that way. Vertcoin has already forked two times to a new PoW function because of a veritable threat of centralized mining. The Vertcoin can be downloaded from Vertcoin's official website. Contents • • • • • • History [ ] Vertcoin was released via a on on January 8, 2014. A 2014 article mentions Vertcoin as a potential successor.

The article notes that it 'hopes to offer an alternative. By taking the foundations of Bitcoin and making some adjustments, Vertcoin punishes miners who use powerful machines and work together in 'pools' to monopolise the mining market.' On July 1, 2014, Vertcoin released a wallet supporting Stealth Address transactions. On December 13, 2014 (block 208301), Vertcoin forked from Scrypt-Adaptive-N proof-of-work function to Lyra2RE as a proactive defense against emerging Scrypt-Adaptive-N capable ASICs. On August 10, 2015 (block 347000), Vertcoin forked from Lyra2RE to Lyra2REv2 because a botnet was controlling more than 50% of the hashing power of Vertcoin network.

On May 7, 2017, Segregated Witness () feature was activated in the main network. SegWit update includes the technology that was also demonstrated in action during the same day. On December 12, 2017 (block 840,000) Vertcoin prize per block was cut in half (50 to 25 Vertcoins). Technical [ ] Vertcoin is an alternative version of Bitcoin using Lyra2REv2 as a proof-of-work algorithm.

Payments in the Vertcoin network are made to addresses, which are based on. They are strings of 33 numbers and letters which always begin with the letter V. Vertcoin introduced what is known as 'Adaptive N‐Factor' to the Scrypt algorithm. The N‐factor component of Scrypt determines how much memory is required to compute the hashing functions. Vertcoin's N‐factor increases with time to discourage the development of dedicated 'mining' hardware and encourage the distribution of the verification task across individual users' PCs. As a countermeasure to emerging Scrypt-Adaptive-N capable ASICs in late 2014, Vertcoin introduced a novel proof-of-work function called Lyra2RE, a NIST5 based chained algorithm with customizable parameters.

The original Lyra2RE consisted of a chain of,, Lyra2, and hash functions. In 2015, the algorithm was modified by Vertcoin developers to favor GPU miners because of a single (assumingly CPU based) botnet controlling a majority of the network's hash power. The current version (Lyra2REv2) of the algorithm consists of the following hash functions:,,, Lyra2, and Blue Midnight Wish. Discouraging centralization of the verification task avoids a single entity exercising control over the ledger, otherwise known as a '.' Merged mining [ ] Cryptocurrencies have the ability to merge mine with another cryptocurrency, meaning a miner is able to mine for more than one blockchain at the same time. The benefit is that every 'hash' that a miner submits contributes to the total hash rate of both currencies, and as a result, they both become more secure.

There is at least one active cryptocurrency, MobileCash, that is currently merge mineable with Vertcoin. See also [ ] • • • • • • • • • References [ ]. • ^ Vertcoin (Bitcointalk.org user) (2014-01-08).. Bitcoin Forum. Vertcoin via Bitcoin Forum post.

Retrieved 2014-06-10. Retrieved 2016-02-23.

Retrieved 2016-02-24. Retrieved 2016-02-24. Retrieved 2016-02-24. Retrieved 2016-02-23.

• ^ Charlton, Alistair (2014-02-05).. International Business Times.

Retrieved 2016-03-02. • Suberg, William (2017-05-08).. Retrieved 2017-05-08.

Retrieved 2016-02-24. Retrieved 2016-02-24. Retrieved 2016-02-24. Retrieved 2016-02-24. External links [ ] •.

What is Vertcoin and Why Was it Created? Vertcoin is a Proof-of-Work (PoW) cryptocurrency originally created on January 2014, as a masters project by a group of students. Just like Bitcoin and Litecoin, it is a peer to peer cryptocurrency of which many of the features are the same. The main difference between Vertcoin and the other coins is that it is heavily focused towards being resistant to ASICs (powerful computers that can mine cryptocurrency rapidly), and decentralization. It is also designed to be easy to use and get into. Why is ASIC resistance important? Bitcoin uses the SHA-256 hashing algorithm, which has now been around for many years and the algorithm hasn’t been changed since its genesis.

This means that large hardware companies have created ASICs in order to mine at a very high rate compared to those who mine with their GPUs (graphics cards) and CPUs (processors) at home. As a result of this, the cryptocurrency’s difficulty increases and means that GPU mining isn’t profitable for many people. Therefore, people stop mining and the large companies control a lot of the hash power. A large amount of hashing power in the control of one entity can mean the network isn’t decentralized and therefore create 51% attacks. Learn more about. Image credit: LivewireInnovation If a cryptocurrency is ASIC resistant, the hashing power is more even between its users as they can mine for themselves and this in turn creates a decentralised network.

How does Vertcoin achieve ASIC resistance? A question you may be asking at this point is “How does Vertcoin achieve ASIC resistance?” or “Surely an ASIC would’ve been created for it by now?”. The truth is that no hashing algorithm can be truly ASIC resistant, and an ASIC was created for VTC at one point. In the past, Vertcoin used the Scrypt-Adaptive-N algorithm for hashing. An ASIC was produced that could use this algorithm and dominate the network.

However, as Vertcoin is dedicated to staying ASIC resistant, a new hashing algorithm was created (Lyra2RE) and Vertcoin hardforked to use Lyra2RE rather than Scrypt-Adaptive-N. Vertcoin now uses Lyra2REv2 in order to favour GPU mining rather than CPU mining to ensure CPU botnets cannot attack the network.

The fact alone that VTC is commited to staying ASIC resistant, and has demonstrated it will stay that way, is enough of a deterrent for ASIC companies to stay away from those algorithms. What makes Vertcoin better than Bitcoin/Litecoin? Vertcoin is a software fork of Litecoin, so many features are the same. Both Litecoin and Vertcoin will only ever have a maximum of 84 million coins and blocks arise every 2.5 minutes (and Litecoin is a software fork of Bitcoin, which will only ever have a total of 21 millions coins and blocks can be found on average every 10 minutes). Other than being ASIC resistant, VTC’s difficulty adjusts with every block rather than ever 2016 blocks so it always remains profitable, slow downs aren’t created in the network and high fees aren’t needed in order for your transactions to be confirmed.

In fact, the average transaction fee is less than half a cent (which is amazing as Bitcoin’s transaction fee rised above $11 during a time where it was more profitable to mine Bitcoin Cash and the difficulty could only change after 2016 blocks). Fun fact: Our average transaction fee is less than half a cent 😳 — Vertcoin (@Vertcoin) However, Vertcoin isn’t meant to be a replacement for the other coins. It is meant to be able to coincide with Bitcoin and Litecoin. As mentioned before all three of these cryptocurrencies are very similar. For example, is enabled on all of these coins which will at one point allow for transactions to be sent over the Lightning Network (for quicker transactions – it is currently in Alpha), and (which is currently in development but has been successfully tested) so coins can be swapped easily. Vertcoin ⇄ Litecoin ⇄ Bitcoin.

How Do I Buy Vertcoin? Vertcoin can be bought from exchanges such as Bittrex, or other cryptocurrencies can be “converted” into Vertcoin with a service such as Shapeshift.io.

Another way you can obtain it is by Vertcoin mining, which can be very profitable depending on your GPU. Currently it can be mined with Vertcoin’s One Click Miner (which is only optimised for nVidia cards at the moment), and this can be found on. An AMD Optimised miner is currently in development, but will need donations to be funded.

In the UK, Vertcoin can be bought directly with GBP with Bittylicious (which rates often aren’t so good), but is still an option nonetheless. How Can I Store Vertcoin? There are many wallets that support Vertcoin.

The official wallets can be found on There are three official options here. The first of which is the Vertcoin core wallet available for Windows and MacOS. This will require you to download the entire blockchain (history of all Vertcoin transactions), and may take a large amount of time to sync. The other two options are Electrum-VTC and using a web wallet, both of which don’t require to download the entire block chain on to your computer. Another option is two use a hardware wallet such as the Ledger Nano S, which will support VTC very soon. A few more options include using a, that can be created from downloading the html file and opening in an environment without an internet connection, printing the paper wallets and then clearing any browser/printer caches. If you choose this option you may want to print multiple copies and perhaps even store in multiple paper wallets.

Finally, you could also use a mobile wallet such as Coinomi (which actually used encrypted Electrum servers in its back end) for ease of access and quick use. For which ever method of storage you choose, always make sure you have the private keys or seed recovery phrase or paper wallet written down/stored safely so as to ensure that you can always have access to them. Asch XAS Mining Calc. How can I help out Vertcoin?

One of the best ways that you can help is by Vertcoin mining. This allows transactions to be sent as expected, prevents decentralization, and you can profit off of it. You could also, in order to pay for developers, marketing, and the AMD optimized miner. In addition to that you could also stay active in the community, for example on, or discord, and help out by answering questions or just being a part of the community in general! Is there anything we’ve missed, or anything you’d like to point out? Please let us know in the comments! Posted in,,, Post navigation.